Quote from: nakaone on October 14, 2015, 08:52:47 PM

Quote from: solid12345 on October 14, 2015, 06:16:54 PM

http://www.coindesk.com/blockchain-factom-400-funding-11-million-valuatoin/?utm_content=buffer49f80&utm_medium=social&utm_source=twitter.com&utm_campaign=buffer

"The investment was provided by Kuala Innovations, which purchased a 3.64% stake in the company for 400,000 Seed Series Shares at $1 per share. According to a statement by Kuala, the investment gives Factom Inc a pre-money valuation of $11m."

can anyone explain me the difference between factom inc, factom and the factom foundation?

it would be funny as hell if factom inc (which I assume is an institutionalized entity using the factom network would be valued 13th times as high as the whole network).

it all does not really make any sense for me.

what is kuala BUYING there?

The Foundation oversees the protocol. It owns stuff, but doesn't have a development staff. The public entity pays developers and pursues projects that build on the protocol.

There are many problems with a non-profit established to promote an open source project. The idea of dual incorporation was pioneered by the Mozilla foundation, which develops and owns the rights to the Firefox browser. Factom is organized in a slightly different fashion, but utilizes the same dual incorporation model to solve the same issues, plus provide legal isolation for a distributed blockchain technology.

I know this raises perhaps as many questions as it answers, but I hope it helps anyway.

Paul